AMERICAN DEBT.

Wairarapa Daily Times, Volume 2, Issue 69, 27 January 1879, Page 2

AMERICAN DEBT.

President Hayes' recent speech on finance, delivered in Minnesota on sth September, ■ contains.some good news, both for English.. '' holders of American bonds and for all other friends of America. The President declares that in August 18G5, the debt of the Union, including a large ainonnt of unadjusted claims, amounted to £800,000,000. The Government has adhered, however, for thirteen years to its policy of reduction, and the lota debt therefore is now £407,000,000, a decrease of nearly one-third, and the largest ever made in any country. This policy, moreover, has so increased tho credit of tho Union that tho Treasurer has been able to " convert" much of the debt, and the total payment for interest, which on August 81, . 1808, was £30.200,000 a year, is now only £19,030,000, a decrease of nearly £11,000,000 a year, Had the income tax been retained, and the members of the Whisky Kings ban"ed the reduction would havo boon still mora rapid. Contemporaneously with this reductions there as been an immense increase in the number of native holders of the bonds. In 1871, at least £1(10,000,000 of the debt was held abroad, whereas at present all but £80,000,000 is held at home. That is most satisfactory, as tho Greenback and Republican parties have therefore to reckon with native holders of property worth £320,000,000. It must be remembered, however, that EiHand \ enjoys the highest credit in the world, tnough >,' Consols are scarcely held at all in a conscious way by the body of the people. "THAT WASHERWOMAN." A novel scene was witnessed in front of St.'Paul's Church last Sunday, says the Auckland Star of the 2nd inst.; As the. worshippers were passing into the build-'-ir.g, impressed doubtless with the solemn " \ thoughts proper to the occasion, they were astonished by-tho spectacle of a chit ' i of a girl standing without the .porch, and J bearing in her hands a paper-wrapped-' bundle, out of the ends of which obtruded one of those, nether garments worn by perßonsof the male sex, vulgarly termed a shirt, a clean shirt. As each gentleman passccUnto the sacred edifice the girl scrutinised him narrowly, exclaiming,— " Please, sir, are you the gentleman my mother washes for \" Most of those appealed to were observed to quicken their pace and hastily enter the door, but at last a bright look of intelligence lighted • up the littlo one's features, as she intercepted a gentleman who passed inside the gate. " Please, sir, mother was ill, and wasn't able to send your things yesterday, but here's your shirt, and she says she'll send the rest to-morrow." It boots not to tell what that man said in tones not loud, but deep, as he rushed inside to - pray, while the girl looked after him in mute astonishment. lint we like that girl. There's real grit in her. She has all the essentials of a smart business woman if her early training be looked to, pluck, determination, and contempt for the mere form and conventionalities to which some folks are such slaves,